CUSIP Number:
656803509
CUSIP Name:
6 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The North American Freedom Choice 6 is a flexible premium deferred index annuity with a market value adjustment. The minimum single premium is $25,000 for non-qualified and qualified money. Additional contributions can be made for $25 or more. 10% of the accumulation value may be withdrawn once each contract year, after the first, on a systematic basis; RMDs are allowed. Surrender charges are six years in duration (9,8,7,6,4,2) and are waived in the event of annuitization after the fifth policy year, death, or entrance into a nursing home. State variations may apply. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Guarantees based on claims paying ability of insurer. Products / features may not be available in all states. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Last Modified:
13 Feb 2024 11:05